The Indian Institute of Technology Madras (IITM) has received a monumental donation of Rs 228 crore from its alumnus Dr. Krishna Chivukula. This is the largest single donation the institution has ever received, and one of the biggest ever made to an educational institution in India. Dr. Chivukula, who pursued his MTech in aerospace engineering at IIT Madras in 1970, has achieved significant success in his career, establishing the company INDO US MIM Tec.
Key Highlights of the Donation
- Krishna Chivukula Block: In honor of Dr. Chivukula, IIT Madras has named an academic block after him.
- Purpose of Donation:
- Scholarships for international students
- Research excellence grants
- UG fellowship programmes for freshers
- Sports scholarship programmes
- Development of Shaastra magazine
- Maintenance of the Krishna Chivukula Block
IIT Madras’s Gratitude
Professor V. Kamakoti, Director of IIT Madras, expressed profound gratitude at a press conference. He emphasized that Dr. Chivukula’s donation reflects the enduring value of education and its impact on future generations. “That our alumnus still remembers his Alma Mater after several decades reinforces the fact that education is the only immortal wealth that we can give to mankind,” he said.
Financial Growth of IIT Madras
- Fundraising Achievements:
- In the fiscal year 2023-24, IIT Madras raised Rs 513 crore, a 135% increase from the previous year.
- The institute has seen a significant rise in high-value donations, with 48 donors contributing over Rs 1 crore each (16 alumni and 32 corporate partners).
- Alumni alone contributed Rs 367 crore in 2023-24, marking a 282% increase from the previous year.
Table: Fundraising at IIT Madras
| Year | Total Funds Raised | Increase (%) | High-Value Donors | Alumni Contribution | Corporate Partners |
|---|---|---|---|---|---|
| 2023-24 | Rs 513 crore | 135% | 48 | Rs 367 crore | 32 |
Conclusion
Dr. Krishna Chivukula’s generous donation to IIT Madras underscores the profound impact alumni can have on their alma mater. This contribution will not only enhance the institution’s infrastructure but also support a wide range of academic and extracurricular programmes, benefiting countless students in the years to come.